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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup

#GBPCHF
Total Profit: 9332 pip
Closed trade(s): 3200 pip Profit
Open trade(s): 6132 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.2340 (day close price) based on 'Hammer' at 2017.08.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.2470 touched at 2017.09.01 with 130 pip Profit.
TP2 @ 1.2645 touched at 2017.09.12 with 305 pip Profit.
TP3 @ 1.2740 touched at 2017.09.12 with 400 pip Profit.
TP4 @ 1.2865 touched at 2017.09.14 with 525 pip Profit.
TP5 @ 1.3110 touched at 2017.09.20 with 770 pip Profit.
TP6 @ 1.3410 touched at 2017.12.08 with 1070 pip Profit.
130 + 305 + 400 + 525 + 770 + 1070 = 3200 pip

Open Profit:
Profit for one trade is 1.3216(current price) - 1.2340(open price) = 876 pip
7 trade(s) still open, therefore total profit for open trade(s) is 876 x 7 = 6132 pip
_______________________________________________

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.31600 is broken, we will close open trades.
DateDecember 24, 2017 - 10:57
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.33300, beginning of downtrend is expected.
  • We make sure when the support at 1.31600 breaks.
  • If the resistance at 1.33300 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.31600 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.3470 on 12/08/2017, so more losses to support(s) 1.3200, 1.3110, 1.3000 and minimum to Trend Hunter Buy Zone (1.2345 to 1.2210) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

Take Profits:

  1. 1.2470
  2. 1.2645
  3. 1.2740
  4. 1.2865
  5. 1.3110
  6. 1.3410
  7. 1.3725
  8. 1.4200
  9. 1.4555
  10. 1.4805
  11. 1.5535
  12. 1.6005
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Swiss Franc (GBPCHF) Sun, 14 Apr 2024
British Pound / Swiss Franc (GBPCHF) Sun, 7 Apr 2024
British Pound / Swiss Franc (GBPCHF) Sat, 30 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 24 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCHF.